Morning, Thursday, 27th June 2024
This conference will examine next steps for university spin-outs and licencing deals.
It will be an opportunity to assess latest thinking and best practice in the commercialisation of academic research in light of the Government’s response accepting all recommendations in the Independent review of university spin-out companies in November 2023, which included:
- a £20m fund to support the foundation of more spin-out companies based on academic research at UK universities
- standardising and quickening the spin-out creation process
- building upon the TenU University Spin-out Investment Terms Guide by recommending 10-25% university equity for life sciences spin-outs and 10% or less for sectors which are less IP intensive
Stakeholders and policymakers will also examine timelines for implementing innovation-friendly commercialisation policies, following UKRI’s circular letter in February 2024. The letter outlined their interim approach to streamlining university spin-out development, with measures including the publication of an Addendum for HEIs in spring 2024, and continued collaboration with HESA to improve data sets and information transfer between HEIs and investors.
Delegates will consider what best practice looks like in regard to future structuring of spin-outs and the relationship between universities and companies, as well as examining industry imperatives for sustaining funding through the scale-up stage of development. Discussion will also consider how the UK can maintain competitiveness in comparison to other countries in this area.
Further sessions will explore the future for government funding and how best to utilise increased investment, with discussion on the potential for changes in the political landscape affecting funding allocation, and how university research departments can prepare.
At this early stage, we are pleased to be able to include a keynote session with Alice Frost, Head of Knowledge Exchange, Research England. We are in contact with further senior speakers.
Overall, areas for discussion include:
- key priorities: implementing recommendations from the Independent Review - moving policy and higher education sector practice forward
- spin-out creation: assessing efficiency and establishing a blueprint for licensing deals - approaches to IP - equity shares - support from the founding institution - reducing bureaucracy to quicken the process
- improving the data pool: future direction for improving data sets around spin-out creation - the process of data collection - CRNs and the vision for a comprehensive database of UK spin-outs
- investment and scaling-up: the role of angel and venture funding in early-stage growth and throughout the scale-up process - overcoming barriers academics face when pursuing commercial interests
- terms between HEIs and innovators: equity stakes in spin-out companies and their impact on further investment - considering what is fair for both parties - examples of effective collaboration
- best practice: standards in the UK and internationally - developing investor-friendly value propositions - assembling strong start-up teams - securing patient capital
- widening participation: increasing the geographic spread of successful spin-outs - encouraging investment beyond the South East of England - examining the role of spin-outs in the levelling up agenda
- diversity: priorities for diversifying spin-out leadership teams - addressing structural barriers for female spin-out founders
The conference will be an opportunity for stakeholders to consider the issues alongside key policy officials who are due to attend from DBT; DSIT; DESNZ; IPO; Department for the Economy, NI; UKSA; and The Scottish Government.
